Brad Garlinghouse from Ripple told CNBC that Bitcoin wouldn't solve the problems that people thought it would.
I think it's (bitcoin) not going to be the panacea that people once thought it would be, where it would solve all of these different kind of problems... Instead, you're seeing specializations of different kind of ledgers, different kinds of blockchains.
Garlinghouse noted that XRP transactions are "a thousand times faster" than bitcoin's, which he called "rather slow."
It is true that bitcoin is much slower. During the interview, the average BTC transaction was 42 minutes according to Blockchain.info, while XRP transactions take about four seconds, although it should be noted that the Bitcoin trade volume is much larger than that of XRP.
Well, I don't really think about it as one versus the other. I mean, it's actually unfortunate, I think, that there's some people in this, the crypto space, the blockchain space — for them, it's almost a holy war of one versus the other. I don't look at that at all. I think that what we're seeing is the overall growth of this space and there will be many winners.
At the moment, Ripple is prosecuted in lawsuits by a person who lost money in XRP trading and who now claims that the company has violated the US Securities Act.